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Debate House Prices
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Selling? Then hurry up - price drops "could be" particularly bad this year
Graham_Devon
Posts: 58,560 Forumite
It's one author in the telegraph......
....So now that's out of the way, it's at least based on the data, and uses guess work from there.
However, these sorts of stories in the press can only highten worries.
....So now that's out of the way, it's at least based on the data, and uses guess work from there.
However, these sorts of stories in the press can only highten worries.
http://www.telegraph.co.uk/finance/personalfinance/houseprices/11042775/How-Augusts-slump-in-asking-prices-compares-with-the-five-worst-monthly-falls.html#disqus_threadTo cut to the chase, if you are selling, you may want to redouble your efforts in the next two months. And buyers might want to target offers under the asking price from November.
This is no exact science - it never is with house prices - but if August registered a 2.9pc decline, far worse even than the decline of August 2007 when the market began to tank, then the established price drop months of November and December could be particularly bad this year.
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Although a drop in house prices would suit me nicely, this has to be about the weakest analysis I have ever seen to support a theory.
It is basically, this year property asking prices dropped by 2.9% in August rather than the more typical ~2.1%. This may mean that drops in Nov/Dec are worse than normal... Some issues:
1/ It's not an overly large deviation from standard
2/ 2010 had the best August in his figures, and the 3rd worst Nov/Dec
The data he is using (aside from being far too small to make a strong statement from) actually implies that there is little if any correlation between August performance and Nov/Dec performance.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
It doesn't matter if they drop to 1% of current value ... it's lovely just owning one and being able to sit in your pants, in your own home, knowing a S21, inspection or rent increase letter will never land on the space where you'd have a doormat (if you could afford one).
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Graham do you own or rent?0
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moneyinmypocket wrote: »Graham do you own or rent?
I think he owns 1/2 a house...... Not sure.0 -
PasturesNew wrote: »It doesn't matter if they drop to 1% of current value ... it's lovely just owning one and being able to sit in your pants, in your own home, knowing a S21, inspection or rent increase letter will never land on the space where you'd have a doormat (if you could afford one).
Why waste money on pants:eek::eek:;);)In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
PasturesNew wrote: »It doesn't matter if they drop to 1% of current value ... it's lovely just owning one and being able to sit in your pants, in your own home, knowing a S21, inspection or rent increase letter will never land on the space where you'd have a doormat (if you could afford one).
why cant renters sit in their pants?
actually, im a renter, and i do it all the time, even go the whole hog on many occasions0 -
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why cant renters sit in their pants?
actually, im a renter, and i do it all the time, even go the whole hog on many occasions
There's always the fear of an unexpected LL visitation .... a knock at the door, having to suddenly get dressed for some arbitrary reason ... or having to tidy up as there's an inspection.0 -
My names Graham and I'm a crashoholic.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0
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this is old news
peak was in april0
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